AmTrust Financial Services, Inc. (AFSI) Lowered to Sell at BidaskClub

AmTrust Financial Services, Inc. (NASDAQ:AFSI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also issued reports on AFSI. Keefe, Bruyette & Woods restated a “hold” rating and issued a $16.00 target price on shares of AmTrust Financial Services in a research note on Tuesday, May 2nd. TheStreet lowered shares of AmTrust Financial Services from a “b-” rating to a “c” rating in a research note on Monday, May 1st. Compass Point restated a “buy” rating and issued a $22.00 target price (down previously from $26.00) on shares of AmTrust Financial Services in a research note on Tuesday, May 30th. ValuEngine lowered shares of AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, FBR & Co restated an “outperform” rating and issued a $22.00 target price (up previously from $16.00) on shares of AmTrust Financial Services in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.50.

AmTrust Financial Services (NASDAQ:AFSI) traded up 1.30% during mid-day trading on Friday, hitting $14.00. The stock had a trading volume of 402,579 shares. The stock has a market cap of $2.40 billion, a P/E ratio of 13.61 and a beta of 1.16. AmTrust Financial Services has a one year low of $11.80 and a one year high of $28.48. The company has a 50 day moving average price of $15.32 and a 200 day moving average price of $18.01.

AmTrust Financial Services (NASDAQ:AFSI) last issued its earnings results on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. AmTrust Financial Services had a net margin of 5.14% and a return on equity of 14.82%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. On average, equities analysts anticipate that AmTrust Financial Services will post $1.42 EPS for the current year.

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In related news, SVP Stephen Ungar sold 5,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $13.92, for a total transaction of $69,600.00. Following the sale, the senior vice president now owns 175,256 shares in the company, valued at $2,439,563.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 50.80% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in AmTrust Financial Services during the first quarter valued at $121,000. SG Americas Securities LLC raised its stake in AmTrust Financial Services by 57.7% in the first quarter. SG Americas Securities LLC now owns 8,673 shares of the insurance provider’s stock valued at $160,000 after buying an additional 3,173 shares during the period. State of Alaska Department of Revenue acquired a new stake in AmTrust Financial Services during the first quarter valued at $170,000. Mckinley Capital Management LLC Delaware acquired a new stake in AmTrust Financial Services during the first quarter valued at $211,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in AmTrust Financial Services during the first quarter valued at $234,000. Hedge funds and other institutional investors own 44.65% of the company’s stock.

AmTrust Financial Services Company Profile

Amtrust Financial Services, Inc (AmTrust) is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers’ compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business.

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